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Call Center Outsourcing Market size is set to grow by USD 25.9 billion from 2024-2028, Rise of emerging countries as call center destinations boost the market, Technavio

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NEW YORK, Aug. 13, 2024 /PRNewswire/ — The global call center outsourcing market size is estimated to grow by USD 25.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.37%  during the forecast period. Rise of emerging countries as call center destinations is driving market growth, with a trend towards increase in m and a and strategic alliances among vendors. However, increasing cost of call center outsourcing services  poses a challenge. Key market players include 247.ai Inc., Alorica Inc., Atento SA, Bertelsmann SE and Co. KGaA, Computer Generated Solutions Inc., Continuum Global Solutions LLC, Datacom Group Ltd., DiRAD Technologies Inc., Epicenter Technologies Pvt. Ltd., Five9 Inc., Helpware Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Serco Group Plc, StarTek Inc., Sutherland Global Services Inc., Tata Consultancy Services Ltd., Teleperformance SE, Transcom Holding AB, and XACT Acquisition LLC.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Call Center Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.37%

Market growth 2024-2028

USD 25.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.14

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 44%

Key countries

US, UK, Australia, Germany, and India

Key companies profiled

247.ai Inc., Alorica Inc., Atento SA, Bertelsmann SE and Co. KGaA, Computer Generated Solutions Inc., Continuum Global Solutions LLC, Datacom Group Ltd., DiRAD Technologies Inc., Epicenter Technologies Pvt. Ltd., Five9 Inc., Helpware Inc., Hinduja Global Solutions Ltd., Infosys Ltd., Serco Group Plc, StarTek Inc., Sutherland Global Services Inc., Tata Consultancy Services Ltd., Teleperformance SE, Transcom Holding AB, and XACT Acquisition LLC

Market Driver

The call center outsourcing market is witnessing intense competition among vendors, leading them to form strategic partnerships and acquisitions with various market players. These collaborations enable vendors to expand geographically and gain access to technological expertise. For instance, Atento opened its first call center in the Philippines at Iloilo Business Park in May 2023, while NobelBiz introduced OMNI+ Awaken Scripting to streamline contact center scripting processes in April 2023. In June 2022, Majorel Group Luxembourg SA and Sitel merged to create a new global leader in customer experience, and Teleperformance acquired Health Advocate, Inc. These strategic moves are expected to positively impact the growth of the call center outsourcing market. 

The call center outsourcing market is experiencing significant trends that are shaping the industry. Skilled labor is in high demand for handling complex customer queries. Technological progress, including digital transformation, machine learning (ML), automation, AI, data analytics, and cloud-based solutions, is driving efficiency and cost savings. Round-the-clock operations, flexibility, and scalability cater to diverse business needs. Customer experience remains a top priority, with multichannel services, multilingual support, instant messaging platforms, chatbots, messaging apps, social media, and omnichannel assistance enhancing engagement. Barriers to communication, absence of control, regulatory compliance difficulties, and quality concerns persist, necessitating effective strategies. Inbound, outbound, and multilingual services are popular, with telecom and IT, government and defense, healthcare, and IT and telecom sectors leading the way. Onshore, nearshore, and offshore outsourcing models, along with subscription-based models, offer varying benefits. Employee satisfaction and regulatory compliance are essential for sustainable growth. 

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Market Challenges

Call center outsourcing is a business strategy that optimizes process efficiency and enhances customer relationships for companies. Outsourcing call center services helps reduce operating costs and increase efficiencies. However, the industry faces challenges, including high attrition rates due to monotonous and stressful work conditions. Agents handle high volumes of calls while adhering to rigid scripts, leading to health issues like stress, insomnia, and hypertension. To maintain smooth workflows, call centers must hire and train new staff frequently, increasing costs. Vendors are adopting technologies like voice bots and social media management tools to enhance productivity. AI and RPA process automation and growing investments in cloud computing simplify business processes. However, these ongoing investments in technology, process improvement, and infrastructure increase the cost of Business Process Outsourcing (BPO), potentially hindering market growth. The global call center outsourcing market may face challenges in balancing these costs while maintaining profitability during the forecast period.The call center outsourcing market faces several challenges in today’s business landscape. Skilled labor availability is a major concern, as is keeping up with technological progress. Round-the-clock operations require flexibility and scalability, while maintaining high customer experience is crucial. Digital transformation brings new opportunities, but also barriers to communication and absence of control. Regulatory compliance difficulties can hinder growth in inbound, outbound, and multichannel services. Technologies like machine learning, automation, blockchain, AI, data analytics, and omnichannel assistance are transforming the industry. Onshore, nearshore, and offshore outsourcing models offer various benefits, from cost savings to employee satisfaction. Subscription-based models provide flexibility, while IT services, telecom, and government sectors offer significant opportunities. Fundamental skills like multilingual support, instant messaging platforms, chatbots, messaging apps, social media, cloud-based solutions, and cloud sourcing are essential for success. Overcoming these challenges requires a strategic approach and continuous innovation.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This call center outsourcing market report extensively covers market segmentation by  

End-user 1.1 IT and telecom1.2 BFSI1.3 Healthcare1.4 Retail1.5 OthersType 2.1 Inbound2.2 OutboundGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 IT and telecom-  The IT and telecom segment holds a significant market share in the global call center outsourcing industry. This growth can be attributed to the increasing technological advances, substantial growth in data traffic, and rising consumer demand for digital communication and content. The telecom services industry is projected to continue growing with the introduction of 5G technology. Telecom organizations are investing heavily in 5G, with estimates suggesting there will be 3.6 billion 5G connections by 2025, increasing to 4.4 billion by 2027. To focus on core offerings, IT and telecom companies outsource their customer relationship management functions to call center organizations. Maintaining in-house call centers requires substantial investments and resources, making outsourcing an attractive option. Companies like AT&T Inc. Have outsourced their customer support functions to vendors such as Teleperformance, Alorica, and Convergys. The shift towards digital transformation and the rise in communication channels necessitated by 5G development will fuel the growth of the IT and telecom segment in the call center outsourcing market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The call center outsourcing market is experiencing significant growth due to the increasing demand for efficient and cost-effective customer support solutions. Artificial intelligence (AI) and data analytics are revolutionizing the industry, enabling personalized and automated interactions. Omnichannel assistance, multilingual support, instant messaging platforms, chatbots, messaging apps, social media, and round-the-clock operations are becoming essential for meeting customer needs across various channels. Fundamental skills like language proficiency and customer service expertise remain crucial, but technological progress is driving the need for a more skilled labor force. Flexibility and scalability are key benefits of outsourcing, allowing businesses to adapt to changing customer demands and seasonal fluctuations. Digital transformation, offshore outsourcing, subscription-based models, employee satisfaction, machine learning (ML), automation, and blockchain technology are shaping the future of the call center outsourcing market.

Market Research Overview

The Call Center Outsourcing Market is experiencing significant growth due to the increasing demand for efficient and cost-effective customer support solutions. Artificial intelligence (AI) and data analytics are transforming call centers, enabling personalized and automated interactions. Omnichannel assistance, multilingual support, and instant messaging platforms are becoming essential for providing seamless customer experiences across various channels. Cloud-based solutions and cloud sourcing are gaining popularity for their flexibility and scalability. Technological progress, including chatbots, messaging apps, social media, and IT services, are revolutionizing customer engagement. Sectors like government and defense, healthcare, IT and telecom, and others, are embracing call center outsourcing for fundamental skills and skilled labor. Round-the-clock operations, flexibility, and scalability are crucial benefits, while customer experience, digital transformation, and service quality are key drivers. Barriers to communication, absence of control, and regulatory compliance difficulties are challenges. Inbound, outbound, and multichannel services are common offerings, with telecom and IT sectors being major consumers. Onshore, nearshore, and offshore outsourcing models, subscription-based models, employee satisfaction, machine learning (ML), automation, and blockchain technology are shaping the future of the call center outsourcing market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userIT And TelecomBFSIHealthcareRetailOthersTypeInboundOutboundGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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